Business Loans

Visions Federal Credit Union offers tailored financing programs to meet your company's capital needs. Our team of lending experts will work with you to achieve a customized loan package with terms that match your ability to repay. Loan applications can be completed online.

Local Decision Making

When applying for a business loan with Visions Federal Credit Union feel comfortable knowing that the loan approval process will be made locally by the Visions' lending staff who knows you and your company.

General Information

• Maximum loan to value is 80%
  
  
• The Credit Union requires most member business loans to be secured.
  
  
• NCUA rules & regulations require all principals and/or shareholders to guaranty all loans
  
  

Financial & Supplemental Information Requirements

• 3 years financial statements including income statements and balance sheets either accountant prepared or tax returns
  
  
• Interim financial statements, balance sheet and income statement dated within 90 days of application
  
  
• 3 years of personal tax returns on all principals and guarantors
  
  
• Current personal financial statement on all principals and guarantors
  
  
• Additional information may be required
  
  

Business Loan Types:

Commercial Real Estate Mortgages

Long term source of funding to purchase new properties/plant and facilities or improve/refinance properties currently owned.

Permanent Commercial Mortgages - Source of funding to purchase, improve, or refinance commercial properties.

• Flexible convenient terms
• Fixed or variable interest rate available

Business Term Loans

• Used to finance a fixed asset purchase such as equipment, vehicles, furniture and fixtures
  
  
• May finance permanent working capital
  
  
• Use for business acquisition and/or expansion
  
  
• Fixed or variable interest rate available
  
  
• Flexible convenient terms available
  
  

Single Payment Short Term Loans

Loans whose total principal is due at a fixed maturity date. Usually have terms of one year or less and are made for inventories and receivables or specific projects.

SBA/Rural Development Guaranteed Loans

We provide loans to businesses that do not qualify for credit under conventional underwriting standards.

• Loan Guaranteed Program whereby loans are guaranteed by a government agency
  
  
• Provide working capital
  
  
• Purchase machinery, equipment, fixtures, and leasehold improvements
  
  
• Purchase or construct a building
  
  
• Expand or renovate existing facilities
  
  
• Available terms depend on the purpose of the loan
  
  

Lines of Credit

Provides immediate short-term funds

Revolving Line of Credit

• Assist in meeting seasonal commitment and/or carry operation during low point in each cycle
  
  
• Provides assistance in cash conversion cycle
  
  
• Maximum period of one year, may be subject to annual review and 30 consecutive day pay down period